As on December 31st last year, The collective debt of Air India and Indian Airlines is Rs 47,200 crore. Even Air India has already made use of half of equity infusion (Rs 30,000) promised till 2020. Currently, The Tax Payers money is being used for the survival of this loss-making airline.
Air India Employees have pinned all their hopes on Narendra Modi. They allege, “The bad political decisions in the past decade have been the prime reason for this situation.”
Recently, The Indian Commercial Pilots Association (ICPA) has conveyed to Narendra Modi that they weren’t averse to the idea of complete privatization of Air India.
After taking over as Aviation Minister, Ashok Gajapati Raju opined public sector companies have been doing exceedingly well in other countries but that’s not the case in India. He, however, didn’t rule out any chances be it privatization of Air India or continuing as public sector. Can Mr. Raju pull out AI from Ventilator?